DealBook Summit: The Other Game – How Athletes Become Brands Released on December 11, 2024 by The New York Times

In this engaging installment of the DealBook Summit series, The New York Times delves deep into the intricate journey of athletes transforming into influential brands. Recorded live at the annual DealBook Summit in New York City, the episode titled "The Other Game: How Athletes Become Brands" features a diverse panel of renowned athletes and industry experts who share their experiences, challenges, and insights into branding within and beyond the sports arena.

Panelists:

• Jess Sims – Host/Moderator
• Bomani Jones – Host of "The Right Time"
• Renee Montgomery – Co-owner and Vice President of the Atlanta Dream, two-time WNBA champion
• Justin Tuck – Retired NFL player and Managing Director at Goldman Sachs Private Wealth Management
• Jordan Chiles – Gold Medal-Winning Olympic Gymnast
• Hope Solo – World Cup and Olympic Champion, Activist
• Josh – Podcast Producer/Contributor

1. The Essence of Branding for Athletes

The conversation kicks off with the panelists sharing their immediate associations with the term "branding," unveiling a consensus around authenticity and personal identity.

• Justin Tuck (00:16): "Money."
• Renee Montgomery (00:20): "Self."
• Jordan Chiles (02:38): "Education."

Bomani Jones (02:44) highlights the core of branding: "Oh, wow. So there was a consensus on authenticity."

This alignment emphasizes that effective branding for athletes transcends financial gains, embedding deeply into personal authenticity and continuous self-education.

2. Balancing Athletic Career and Future Endeavors

Jess Sims (02:59) poses a critical question: How do athletes remain present in their sports while planning for their post-retirement lives?

• Justin Tuck (03:20): Discusses leveraging downtime to explore business opportunities in New York City, meeting with hedge fund managers, real estate agents, and more to diversify his brand beyond football.

Elise (04:23) humorously points out that Justin finds football easy due to his versatile playing positions, to which Justin clarifies his unique experience in the NFL.

3. The Competitive Spirit Beyond the Game

The panel delves into how the competitive nature ingrained in athletes translates into their business ventures.

• Bomani Jones (08:28): "Did we win this year? No."
• Renee Montgomery (08:31): Discusses finding that competitive rush in business achievements like securing brand deals through Unrivaled.

Justin Tuck (09:26): Reflects on the inherent risks and uncertainties in both sports and finance, underscoring the importance of preparedness and education in sustaining a brand.

4. Navigating Social Media and Authenticity

A significant portion of the discussion revolves around the impact of social media on athlete branding.

• Hope Solo (16:19): Shares her initial aversion to social media, viewing it as a distraction, but later recognizing its benefits in controlling her narrative and expanding her brand through authenticity.

• Jordan Chiles (43:38): Expresses discomfort with social media's performative aspects, emphasizing the challenge of maintaining authenticity while managing brand partnerships.

Josh (21:11): Offers a historical perspective on social media's evolution, noting its transformation from a platform for celebrities to its current state where authenticity is often overshadowed by brand-driven content.

5. The Influence of NIL (Name, Image, Likeness) Policies

The panel shifts focus to the transformative effects of NIL policies on college athletes and the broader sports landscape.

• Jordan Chiles (71:48): Criticizes the current NIL landscape for disrupting traditional team dynamics and the collegiate sports experience, highlighting how it pressures athletes to prioritize personal branding over team loyalty.

• Justin Tuck (72:02): Discusses the complexities coaches face with continual recruiting and the uncertain financial implications of NIL deals, stressing the need for structured regulations to preserve the integrity of collegiate sports.

6. Future of Athlete Branding and Business Ventures

Concluding the discussion, panelists share their ventures beyond sports, emphasizing authenticity and strategic partnerships.

• Jordan Chiles (87:17): Announces her upcoming book, "I'm That Girl," focusing on her journey and personal growth, reinforcing the importance of authenticity in brand building.

• Renee Montgomery (88:22): Introduces "Unrivaled," a three-on-three women's basketball league, highlighting its commitment to athlete equity and deep dive into player branding.

• Jess Sims (87:55): Celebrates the launch of various athlete-driven brands, emphasizing the organic and authentic connections these ventures foster with audiences.

Key Takeaways:

• Authenticity is Paramount: Successful athlete branding hinges on genuine self-representation and aligning business ventures with personal values.

• Social Media as a Double-Edged Sword: While it offers a platform for direct engagement and brand expansion, it also presents challenges in maintaining authenticity and managing public perception.

• NIL Policies Reshape Collegiate Sports: These policies empower athletes financially but introduce complexities in team dynamics and recruiting processes, necessitating thoughtful regulation.

• Diversification Beyond Sports: Athletes are increasingly venturing into various business domains, leveraging their platforms to build enduring brands that extend their influence beyond their athletic careers.

Notable Quotes:

• Justin Tuck (09:26): "I acknowledge the excitement, but it's also, like, the risk factor. Like, not knowing what's around the corner."

• Hope Solo (21:11): "I'm learning from all of you guys all the time."

• Jordan Chiles (43:38): "I'm stuck. And I think that's how a lot of like my generation, athletes are failing and they don't know what to do."

• Renee Montgomery (53:51): "If I'm going to do this, it has to be worth it."

• Jess Sims (70:31): "Sometimes just being true to yourself... attracts the right people to you."

Conclusion:

"The Other Game: How Athletes Become Brands" offers a comprehensive exploration of the multifaceted journey athletes undertake to evolve into influential brands. Through candid discussions, the panelists illuminate the delicate balance between maintaining authenticity and navigating the commercial demands of modern branding. As the sports industry continues to evolve with emerging technologies and policies, the insights shared in this episode provide valuable guidance for athletes aspiring to leave a lasting legacy both on and off the field.

For full access to the DealBook Summit series and more insightful discussions, subscribe to The New York Times podcasts here or on Apple Podcasts and Spotify.